Mantra Group results for 1H2018 released today. Overall the group result was rather flat to be kind but commentary is usually of interest because of the significant hotel resort accommodation presence in TNQ.
RevPAR = revenue per available room
Most interest in Mantra though is on progress of the takeover by Accor which seems to have lagged a month or two behind the initially indicated schedule. Mantra have indicated the arrangement is on track for completion within FY2018. This remains subject to FIRB and ACCC approval with the following commentary from Mantra.
AccorHotels has been actively engaging with the ACCC, including responding to information requests, and believes the approval process remains on track. AccorHotels remains confident of obtaining approval.
As previously posted the combined group would have a very strong presence in TNQ and particularly in locations such as Palm Cove with five of the prime Williams Esplanade properties: Corporate action in accommodation